As part of the autumn budget measures, it was announced that the higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties will increase to 5% (from 3%) for transactions effective on or after 31 October 2024.
 

Key highlights from the Chancellor's Autumn Statement. 

Many investment properties are acquired through a limited company for a variety of reasons.
 
Complications arise when this structure is no longer appropriate, for example, there may be a desire to gift to a child, and extracting a property from a company back into private beneficial ownership can be a costly affair. Tax costs arise both for the company disposing of the property and for the purchasing connected party.

Many investment properties are acquired through a limited company for a variety of reasons.
 
Complications arise when this structure is no longer appropriate, for example, there may be a desire to gift to a child, and extracting a property from a company back into private beneficial ownership can be a costly affair. Tax costs arise both for the company disposing of the property and for the purchasing connected party.

The Stamp Duty Land Tax (SDLT) temporary nil rate band of £500,000 for residential properties has been extended until 30 June 2021.

Stamp Duty Land Tax or “SDLT” is due when someone buys a property, or land, over a certain price in England and Northern Ireland.